3745-111-05
ERC banking system.

The Ohio EPA shall establish a voluntary ERC banking system to
track the deposit and withdrawal of ERCs and the generation, transfer and use
of ERCs in accordance with this chapter.

(A)
Prior to deposit of ERCs into the banking
system, the Ohio EPA shall do one of the following:

(1)
Verify the information submitted by the
owner or operator in accordance with paragraph (D)(1) of rule
3745-111-03 of the
Administrative Code and classify the ERCs as verified ERCs in the banking
system.

(2)
Review the information
submitted by the owner or operator in accordance with paragraph (D)(2) of rule
3745-111-03 of the
Administrative Code and classify the estimated ERCs as un-verified ERCs in the
banking system.

(6)
The ERC generation date. The ERC
generation date entered in the banking system shall reflect the anticipated
date of emissions reduction and shall be amended as necessary to reflect the
actual emissions reduction date.

(1)
Upon registration and deposit of verified
ERCs into the ERC banking system an ERC certificate with a unique ERC certificate number shall
be generated by the director to the verified ERC holder. Un-verified ERCs will
receive an ERC certificate upon verification by Ohio
EPA.

(2)
If the owner of an ERC
certificate uses or transfers ERCs to a new owner in
part or whole, the director shall generate an ERC certificate to the new owner reflecting the
transferred amount of ERCs and, if applicable, shall issue an ERC
certificate to the current owner reflecting the amount
of ERCs remaining after the transfer or use. Upon issuance of a permit allowing
the use of verified ERCs for the purpose of offsetting emissions, or upon
transfer of ERCs, the banking transactions shall be updated in the banking
system, including identifying any remaining ERCs available for transferring or
use after the transaction.

Nothing in this rule shall prohibit the transfer of ERCs that
do not meet the requirements of paragraph (D) of rule
3745-111-04 of the
Administrative Code if the ERCs are withdrawn from the banking system. ERCs and
ERC certificates may be withdrawn by the current owner from the ERC banking
system at any time, upon written notice to the director. Upon withdrawal, all
ERC certificates shall be terminated and the ERCs shall be withdrawn from the
banking system.

(E)
The
director shall publish a list of deposited ERCs into the banking system that
are available for transfer and use on the Ohio EPA website and the list shall
be updated on a thirty day basis, at a minimum.

The Ohio EPA shall maintain supporting documentation, including
permit decisions, generator information and other information required to
sufficiently characterize the emissions, which shall allow the Ohio EPA and ERC
users to determine if the ERCs are suitable for use at a specific
facility.

The director may produce an annual publication related to
banking transactions.

(1)
The
publication may include, at a minimum, the costs, in dollars per ton, of ERCs
purchased for transfer or use during the calendar year, the pollutant type and
the county where the ERC was generated, transferred or used.

(2)
Information on the identity of any party
involved in the ERC transactions and data used to calculate the purchase price
of the ERCs shall not be included in the publication.

(3)
The document may be published by the
first of March of the following year.